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20121129
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Search Results 0 to 7 of about 8 (some duplicates have been removed)
in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be raised on the revenue side. let's listen to
will push back on president obama's demand for tax hikes on the rich when it comes to the fiscal cliff. but treasury secretary timothy geithner says the white house will not give in. >> no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember it's only 2%. >> geithner adds the obama administration is, quote, absolutely prepared to go off the cliff, if necessary. joining me now is van jones, cnn contributor and former obama administration official. good morning. >> god morning to you. >> so, van, i guess my first question that's eatsy for geithner to say, we're perfectly willing to go off the fiscal cliff. that means a tax hike on middle class americans and maybe some of them are thinking this morning i'm not really so happy geithner said that. >> it might have been inartful for him to say it the way he said it. i think he is making a very important point, which is that the american people did vote. they voted for the one thing the president said very clearly, which is that tax rates would go up on the wealthiest. it's an
fall off the fiscal cliff. avoiding it -- if they do nothing, everyone's taxes go up and automatic spending cuts will take effect. no imminent deal is in sight. >> if they are going to force higher rates on virtually all americans, because they're unwilling to let tax rates go up on 2% of americans, then that's a choice we're going to have to make. >> i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they have actually asked for more revenue than they have been asking for the whole entire time. >> in other words not quite a good place to be, but both sides agree that the government needs to raise more money. how much and how they do it are two of the major sticking points. >>> and protests and a constitutional crisis, what is next for egypt. we'll dig deeper into the struggle for power between conservative islamists and liberal secularists. and later, brad pitt talks about his future with angelina jolie. >>> and a dog
year. of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even though they haven't been so strong throughout the rest of the country, companies like general motors continue to push ahead with these vehicles. here is their newest introduction, which will be on the market in 2014. only available for sale in california and in oregon initially. this is the chevy spark. it is an all electric vehicle that will get somewhere south of 100 miles on a full charge. what's really cool about this vehicle is you'll be able to charge it up to 80% capacity in just 20 minutes. that is a challenge, though, getting the rest of america outside of places like california to buy
from the fiscal cliff. but i want to play what he had to say on the senate floor earlier today as well. take a listen. >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is the holy grail of libberloo. their aim isn't job creation. they're interested in wealth destruction. >> wealth destruction, nancy. back to this wealth distribution thing and their whole narrative of punishing success. what role is mitch mcconnell going to serve in these negotiations at all? >> he'll play a very key role. although you really have to keep in mind the final deal is really going to be struck between president obama and speaker boehner. and those are really the two people to watch. and their staffs right now. of course, mitch mcconnell will play a key role in bringing around senate republicans, excuse me. but it's really between the house republicans and the white house at this point. you know, we have to watch and see what they do. i think there's a lot of public posturing. but i do think that all these people have been at this table before. they'r
by going over this fiscal cliff. >> crazy? betting the country? well, according to the congressional budget office, bowles has a good reason for saying what he did. the economy would go into a recession, economic output would drop and unemployment rate would go back up to 9.1% by the end of next year. now, the clock is ticking. john and harry, get out of the sand box. 33 days are left. peter difazio of oregon is "outfront" tonight. let me just get a response from you about timothy geithner's plan that he put on the table. 1.6 trillion in revenue. $400 billion in cuts. i'm a little confused because the president said he will give $2.50 in spending cuts for every dollar in revenue. this is, this is the opposite. >> well, finally, the white house has learned not to negotiate with itself, but with the opposition, which is the republicans. remember, there is no real cliff. on january 1st, the only thing that goes away is the social security tax holiday and nobody is seriously talking about continuing that. all the other tax increases don't take place until sometime around march. gives congress p
this afternoon with brand-new republican offers to try to save the $2.2 trillion and avoid the so-called fiscal cliff. the across-the-board spending cuts and sharp tax increases that hit in just 29 days. let's get straight to our senior congressional correspondent dana bash. she's watching what's going on. dana, the tax rates, first of all, let's get to a major sticking point right now. there's been a counterproposal from house republicans to the white house. you have details. >> reporter: that's right. let's start exactly where you just began on those tax rates because that has become the big divide between the two sides. the answer is the house republicans are not budging. they still want to continue the bush era tax rates at all income levels. let's get specific. first of all, the counterproposal, they say they would get about $800 billion in savings from what they call tax reform, from deductions and closing loopholes, things like that. but the bush era tax rates, all of them would remain, even for the wealthiest. to show you the difference, compared to the white house offer that they got l
Search Results 0 to 7 of about 8 (some duplicates have been removed)